VALLETTA, Jan. 31 (Xinhua) -- Moody's has affirmed Malta's sovereign rating at A3 with a positive outlook.

"I am pleased to note that Moody's is acknowledging our efforts to strengthen the regulatory institutions while sustaining macroeconomic and fiscal stability," Malta's Finance Minister Edward Scicluna said in a statement on Thursday.

Moody's attributed the A3 rating to the Maltese economy's robust growth dynamics, relatively elevated wealth levels that support the country's shock-absorption capacity, and a stable and conservative domestically oriented banking sector.

Moody's noted that the positive outlook reflects Malta's sustained progress in reducing national debt as well as its robust medium-term growth prospects that are supportive of further improvements in public finances.

Moody's expects that Malta's growth will remain strong in 2019 driven by growth in investment and private consumption.